Right to see bank statements/checks

[Delcondo]

What is the name of your state? Delaware

My Condo Regulations state: " Keeping books with detailed accounts of receipts & expenditures affecting the Property, and the administration of the Property, specifying the maintenance and repair expenses of Common Elements and any other expenses incurred. The books and vouchers accrediting the entries thereupon shall be available for examination by the Association of Owners."

I put in a request to look at the books along with the invoices as well as bank statements & cancelled checks. I'm being denied access to the bank statements & cancelled checks. Here was the response I received :

"Your last request for bank statements and cancelled checks can not be fulfilled, only Council member are privy to these documents primarily for the security of the account numbers. I’m sure that a Council member would not have a problem answering any of your questions regarding the bank statements."

I found this response to be a bit strange as just having a bank account number in no way would allow someone to transact on that account. Plus, the last line about having any questions on the bank statements is also strange. Afterall, how could I formulate any questions on the bank statements unless I first had a chance to see them?

Do I have the right to see the bank statements and/or cancelled checks?

Thank You.

 

[You Are Guilty]

Generally, yes. Are you prepared to sue to get it though?

If that pretext of theirs is all they have, try asking for the same materials with the account numbers redacted. See what kind of phony excuse they come up with next

 

[HomeGuru]

What is the name of your state? Delaware

My Condo Regulations state: " Keeping books with detailed accounts of receipts & expenditures affecting the Property, and the administration of the Property, specifying the maintenance and repair expenses of Common Elements and any other expenses incurred. The books and vouchers accrediting the entries thereupon shall be available for examination by the Association of Owners."

I put in a request to look at the books along with the invoices as well as bank statements & cancelled checks. I'm being denied access to the bank statements & cancelled checks. Here was the response I received :

"Your last request for bank statements and cancelled checks can not be fulfilled, only Council member are privy to these documents primarily for the security of the account numbers. I’m sure that a Council member would not have a problem answering any of your questions regarding the bank statements."

I found this response to be a bit strange as just having a bank account number in no way would allow someone to transact on that account. Plus, the last line about having any questions on the bank statements is also strange. Afterall, how could I formulate any questions on the bank statements unless I first had a chance to see them?

Do I have the right to see the bank statements and/or cancelled checks?

Thank You.

**A: file a complaint with the state real estate commision that regulated condo associations. Let the Board deal with the state.

 

[Delcondo]

Also, found the following under Delaware State Laws:

§ 2218. Books of receipts and expenditures, availability for examination.

The treasurer shall keep detailed records of all receipts and expenditures, including expenditures affecting the common elements specifying and itemizing the maintenance, repair and replacement expenses of the common elements and any other expenses incurred. Such records shall be available for examination by the unit owners during regular business hours. In accordance with the actions of the council assessing common expenses against the units and unit owners, he shall keep an accurate record of such assessments and of the payment thereof by each unit owner. (25 Del. C. 1953, § 2218; 54 Del. Laws, c. 282.)

Detailed records of receipts and expenditures would seem to include any books or ledgers they keep in addition to the bank statements and cancelled checks.

I appreciate the advice but before I go to the State Real Estate Commision to file a complaint, I'd like to see if I can get the bank statements & cancelled checks in a less confrontational way. Any suggestions?

Thanks again for the help. Everyone is most helpful on this Forum.

 

[TinkerBelleLuvr]

Ask for the check register and bank reconciliation. In addition, as for the Profit/loss statement. That can give you a overview of the how payments are being made while NOT seeing the account numbers.

 

[HomeGuru]

Ask for the check register and bank reconciliation. In addition, as for the Profit/loss statement. That can give you a overview of the how payments are being made while NOT seeing the account numbers.

**A: I agree.

 

[TinkerBelleLuvr]

I would normally say a balance sheet also, but most layman don't understand them.

 

[Delcondo]

I do have a Profit/Loss statement for last year & for the first 6 months of this year. I'm not sure if they do a monthly Treasurers Report with the minutes each month but I guess that might be good to ask for.

All the help is much appreciated.

 

[BlondiePB]

I do have a Profit/Loss statement for last year & for the first 6 months of this year. I'm not sure if they do a monthly Treasurers Report with the minutes each month but I guess that might be good to ask for.

All the help is much appreciated.

Delcondo, did the BOD send their written reply to your request in the alloted time stated by your state statutes? State statutes have info about this. Check it out if you haven't done so.

 

[Delcondo]

They did get back to my written request in 2 days. I think our by-laws state a "reasonable amount of time" -- sorta vague, so great point about state statutes.

I called the Treasurer since it was a financially related matter (seeing Bank statements) that seemed to be the holdup. I found out that the Council wasn't happy with me pointing out, at a community meeting, that our management company had paid our sewer bill late and that resulted in the community getting hit with a late fee penalty. So anyway, I asked for a reconsideration and they are now saying I can see the bank statements.

Again, I thank everyone on here for their input & help.